Tonernews.com, June 12, 2026. USA
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Xerox Holdings Corp. Downgraded To ‘SD’ From ‘CCC+’ On Below-Par Debt Repurchase.
Xerox is facing renewed scrutiny after S&P Global Ratings downgraded the company to Selective Default (SD) following a below-par debt repurchase, a move that signals growing financial stress at one of the printing industry’s most recognizable names. While Xerox argues the transaction helps reduce debt and strengthen its balance sheet, S&P’s decision suggests creditors were forced to accept less than originally promised—a red flag that has investors and industry observers asking how much deeper the company’s challenges run. The downgrade comes as Xerox continues to battle declining print volumes, shrinking revenue, and an increasingly competitive digital workplace market. For many in the office equipment and toner industry, the question is no longer whether Xerox can cut costs, but whether the company’s turnaround strategy can generate enough growth to offset years of decline. As competitors invest heavily in AI, automation, and managed services, Xerox now faces the difficult task of convincing both customers and lenders that its best days are still ahead.
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